INP
\nPESHAWAR
\nThe Khyber Pakhtunkhwa Finance Department in collaboration with the UK Foreign, Commonwealth and Development Office (FCDO) funded Sub-National Governance Programme organized an orientation for MPAs of KP Assembly to enhance their understanding of public finance management, budget analysis and key challenges of budget 2020-21.
\nThe Orientation session was chaired by Speaker Provincial Assembly Mushtaq Ahmad Ghani and Finance Minister Taimur Saleem Jhagra.
\nPublic financial management (PFM) is critical to economic governance and essential in establishing the performance, legitimacy and accountability of functional states. PFM leverages effective administration of funds collected and spent by governments. Moreover, the budget is an important document in ensuring transparency, accountability, comprehensiveness and good governance.
\n\u201cThe Year 2019-20 was progressing as a year of economic growth for Khyber Pakhtunkhwa, however, the province observed a significant dip in progress due to COVID. Despite all challenges we successfully and launched universal health coverage for the entire population of KP\u201d said Taimur Saleem Jhagra Minister Finance KP in his presentation.
\nHe added, \u201cThis year\u2019s budget was one of the most challenging in recent times due to COVID-19 pandemic but government adopted a bold agenda of reforms, conducting budget rationalization exercise, adopted strict austerity measures and presented a balanced budget\u201d.
\nIn his detailed presentation on PFM, Waqas Paracha SNG-II PFM Advisor noted that Public financial management was not only crucial in meeting fiscal aims, monitoring progress against targets and effective utilization of resources, but a sound system could aid the government in setting future priorities and ensuring fiscal sustainability.
\nSpeaking in his keynote remarks, Mushtaq Ghani, Speak Provincial Assembly KP said that such sessions increase the legislator\u2019s public finance knowledge on the core processes of budget preparation and enable legislators to understand and analyze the budget to promote accountability and transparency. Therefore, sensitization of the legislators on key challenges to the budget 20-21 is very important. He appreciated the joint efforts of the FD and SNG in organizing this session.
\n\u201cBy providing a detailed description of proposed expenditure, it allows Provincial Assembly and the general public to \u201cknow where does the money come from and go\u201d and thus increases transparency,\u201d said the SNG-II Provincial Team Lead Muhammad Salim Khan in his closing remarks. He said the budget is based on key assumptions about income and expenditure next year. There is huge work on the back to establish these assumptions. The MPs must understand such assumptions for ensuring the element of accountability.
\nSNG is a four-year FCDO-funded programme supporting the Governments of Khyber-Pakhtunkhwa and Punjab, as well as local governments in selected districts, to improve the way they are governed and manage their resources for better service delivery.<\/p>\n","protected":false},"excerpt":{"rendered":"
INP PESHAWAR The Khyber Pakhtunkhwa Finance Department in collaboration with the UK Foreign, Commonwealth and Development Office (FCDO) funded Sub-National Governance Programme organized an orientation for MPAs of KP Assembly to enhance their understanding of public finance management, budget analysis and key challenges of budget 2020-21. The Orientation session was chaired by Speaker Provincial Assembly […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":{"0":"post-141908","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-peshawar"},"yoast_head":"\n